Aberdeen Ultra-Short Duration Bond Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
FANNIE MAE	FNMA 0.5 10/30/14	3136G0FF3	1000000	1001920.22	6.60%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/07/13	313397AG6	600000	599988.49	3.95%
FANNIE DISCOUNT NOTE	FNMDN 0 01/23/13	313589AY9	600000	599962.17	3.95%
FREDDIE MAC	FHLMC 0 11/04/13	3134G25F5	500000	500043.75	3.29%
FED HOME LN DISCOUNT NT	FHLBDN 0 02/20/13	313385CC8	350000	349938.78	2.30%
US TREASURY N/B	T 3.125 09/30/13	912828JM3	275000	283200.56	1.87%
AMOT 2010-2 A	AMOT 4.25 04/15/17	02005AAF5	250000	269751.97	1.78%
CONS EDISON CO OF NY	ED 4.875 02/01/13	209111EA7	257000	263119.30	1.73%
ONCOR ELECTRIC DELIVERY	ONCRTX 6.375 01/15/15	68233DAL1	230000	260593.18	1.72%
BP CAPITAL MARKETS PLC	BPLN 0 12/06/13	05565QBW7	250000	251479.16	1.66%
SEMPRA ENERGY	SRE 0 03/15/14	816851AR0	250000	251423.00	1.66%
DEUTSCHE BANK AG LONDON	DB 4.875 05/20/13	2515A0NY5	245000	250612.48	1.65%
CAMERON INTL CORP	CAM 1.6 04/30/15	13342BAH8	240000	243114.51	1.60%
NEXTERA ENERGY CAPITAL	NEE 1.611 06/01/14	65339KAC4	240000	242908.44	1.60%
TOTAL CAPITAL CANADA LTD	TOTAL 1.625 01/28/14	89153UAB7	235000	239841.06	1.58%
BANK OF NOVA SCOTIA	BNS 0 01/12/15	064159AN6	235000	239244.38	1.58%
TALISMAN ENERGY	TLMCN 5.125 05/15/15	87425EAG8	220000	238570.77	1.57%
CENTERPOINT ENERGY	CNP 6.85 06/01/15	15189TAG2	210000	238231.42	1.57%
PRUDENTIAL FINANCIAL INC	PRU 2.75 01/14/13	74432QBK0	230000	233150.99	1.54%
CATERPILLAR FINANCIAL SE	CAT 1.375 05/20/14	14912L4V0	230000	233153.75	1.54%
JOHNSON CONTROLS INC	JCI 0 02/04/14	478366AY3	225000	225938.58	1.49%
SMAT 2011-2USA A4A	SMAT 2.31 04/14/17	78446KAF0	220000	225609.52	1.49%
ENERGY TRANSFER PARTNERS	ETP 5.95 02/01/15	29273RAB5	190000	212922.11	1.40%
AMERICAN INTL GROUP	AIG 3 03/20/15	026874CT2	200000	209786.53	1.38%
ANHEUSER-BUSCH INBEV WOR	ABIBB 0 01/27/14	03523TBC1	205000	206395.58	1.36%
BARRICK GOLD CORP	ABXCN 1.75 05/30/14	067901AE8	200000	203094.79	1.34%
CF 2011-2A A	CF 0 04/07/24	165182AX4	200000	202733.19	1.34%
BARCLAYS BANK PLC	BACR 2.5 01/23/13	06739FGP0	200000	202443.44	1.33%
JPMORGAN CHASE AND CO	JPM 0 01/24/14	46623EJF7	200000	201769.50	1.33%
FORDF 2010-5 A1	FORDF 1.5 09/15/15	34528QAU8	200000	201516.53	1.33%
PUB SVC ELEC N GAS	PEG 0.85 08/15/14	74456QAY2	200000	201409.82	1.33%
SANOFI-AVENTIS	SANFP 0 03/28/14	80105NAC9	200000	200757.98	1.32%
GENERAL ELEC CAP CORP	GE 0 12/11/15	36962G6N9	200000	200333.77	1.32%
HSBC FINANCE CORP	HSBC 0 01/15/14	40429CFV9	200000	199645.38	1.31%
EMERSON ELECTRIC CO	EMR 4.5 05/01/13	291011AT1	187000	190941.03	1.26%
EXPRESS SCRIPTS HOLDING	ESRX 2.75 11/21/14	04044TAA4	175000	181063.85	1.19%
IBM CORP	IBM 0.55 02/06/15	459200HB0	180000	180432.23	1.19%
PRUDENTIAL FINANCIAL INC	PRU 4.75 04/01/14	74432QAD7	170000	179922.05	1.18%
TESCO CORP	TSCOLN 2 12/05/14	881575AE4	175000	179077.93	1.18%
TRANS-CANADA PIPELINES	TRPCN 0.875 03/02/15	893526DL4	175000	176497.54	1.16%
COMMONWEALTH EDISON	EXC 1.625 01/15/14	202795HW3	170000	173104.89	1.14%
AT&T INC	T 0.8 12/01/15	00206RBL5	170000	170070.63	1.12%
PROCTER GAMBLE CO/THE	PG 0 02/06/14	742718DX4	160000	159976.49	1.05%
GEORGIA POWER COMPANY	SO 0.625 11/15/15	373334JZ5	160000	159783.14	1.05%
NATIONAL AUSTRALIA BANK	NAB 0 07/25/14	6325C0CD1	150000	152007.42	1.00%
RIO TINTO FIN USA LTD	RIOLN 1.125 03/20/15	76720AAA4	150000	151702.54	1.00%
BHP BILLITON FIN USA LTD	BHP 1 02/24/15	055451AN8	150000	151640.52	1.00%
TOYOTA MOTOR CREDIT CORP	TOYOTA 1 02/17/15	89233P5Z5	150000	151564.53	1.00%
JOHN DEERE CAP COR	DE 0.95 06/29/15	24422ERS0	150000	150839.82	0.99%
QUEST DIAGNOSTIC INC	DGX 0 03/24/14	74834LAT7	140000	140889.67	0.93%
GEET 2012-1 A4	GEET 1.23 01/22/20	36162NAD9	135000	136540.69	0.90%
NATIONAL RURAL UTILITIES	NRUC 4.75 03/01/14	637432DC6	125000	132985.05	0.88%
Cash		Cash	132753	132753.53	0.87%
HCP INC	HCP 2.7 02/01/14	40414LAB5	125000	128649.63	0.85%
INTL LEASE FINANCE CORP	AIG 6.5 09/01/14	459745FY6	115000	125254.17	0.82%
BOEING CAPITAL CORP	BA 5.8 01/15/13	097014AH7	120000	123416.57	0.81%
CLEVELAND ELEC ILLUMINAT	FE 5.65 12/15/13	186108CD6	110000	115187.83	0.76%
MACK-CALI REALTY L.P.	CLI 5.125 02/15/14	55448QAJ5	105000	110789.19	0.73%
BALTIMORE GAS & ELECTRIC	EXC 6.125 07/01/13	059172AA4	100000	105827.70	0.70%
US TREASURY N/B	T 0.25 12/15/15	912828UC2	105000	104700.52	0.69%
TRANSALTA CORP	TACN 5.75 12/15/13	89346DAB3	100000	104402.86	0.69%
WFNMT 2009-D A	WFNMT 4.66 05/15/17	981464CE8	100000	102428.01	0.67%
KROGER CO.	KR 5 04/15/13	501044CJ8	100000	102332.76	0.67%
FLORIDA POWER CORP	DUK 4.8 03/01/13	341099CC1	100000	102319.20	0.67%
ABBVIE INC	ABBV 1.2 11/06/15	00287YAA7	100000	100844.77	0.66%
FORDF 2010-5 A2	FORDF 0 09/15/15	34528QAV6	100000	100382.58	0.66%
COMET 2006-A12 A	COMET 0 07/15/16	14041NDC2	100000	99967.41	0.66%
HEWLETT-PACKARD CO	HPQ 0 05/30/14	428236BJ1	100000	98075.66	0.65%
AMERICAN EXPRESS CREDIT	AXP 1.75 06/12/15	0258M0DE6	95000	97077.42	0.64%
ROYAL BANK OF SCOTLAND	RBS 2.55 09/18/15	780099CC9	85000	87610.00	0.58%
PRINCIPAL LFE GLB FND II	PFG 1 12/11/15	74256LAC3	85000	84921.93	0.56%
AMEREN CORPORATION	AEE 8.875 05/15/14	023608AE2	75000	82924.52	0.55%
21ST CENTURY INSUR GRP	FARMER 5.9 12/15/13	90130NAB9	75000	77951.05	0.51%
ERAC USA FINANCE COMPANY	ENTERP 2.25 01/10/14	26884TAC6	75000	76565.74	0.50%
BANK OF AMERICA CORP	BAC 1.5 10/09/15	06051GER6	70000	70594.16	0.46%
CAPITAL ONE FINANCIAL CO	COF 1 11/06/15	14040HBA2	65000	64879.74	0.43%
SDART 2012-3 A3	SDART 1.08 04/15/16	80282WAC4	56000	56403.54	0.37%
US TREASURY COLLATERAL	T 0.5 05/31/13	912828QZ6	50000	50102.08	0.33%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/14/13	313397AP6	50000	49998.08	0.33%
PSEG POWER LLC	PEG 2.5 04/15/13	69362BAV4	25000	25276.22	0.17%

Disclosure

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.